All Forum Posts by: James Ward

I guess, out of the two(2) choices, I would pick Legal.

Self-Directed IRA's could fill up so much info! There so much info about them, how they work, and the really cool things you can do with them.

The worse part of my business, are the endless conference calls with Realtors. I would have to say, that I spend way to much time with our Investors on the phone with Realtors explaining the Short Sale Flip process. When dealing with "new" Short Sale Investors, they tend to require someone with extensive knowledge to accompany them on the phone while talking to Realtors. And this requires my time.

I am not stating in any manner that I do not enjoy the calls. But, they do consume large parts of my week.

It really depends on the area. The different counties here in Florida are all different. Some are online, free, and easy to use.

Congratulations BP and Josh!

When you look at the whole picture it is really amazing on the amount of knowledge that has been expressed. I can not think of any other networking websites can could show this type of accomplishment and it not be byway of "junk" postings.

Once again THANKS for everything BP and Josh!

Well, here goes. In my humble opinion, I hold the belief that the present cycle of mass foreclosures has several years left. There are muliple factors that bring this opinion to light. We have many people that are unable to pay the obligation of the mortgage, for many different reasons. We also have loads of people that now are "choosing" to no longer meet the obligation of the mortgage. This will continue to cause foreclosures for several years to come. And whether you belive it or not, it all causes chain reactions that ripple thru our economy.

Enjoy!

Sam,

It is great anytime you get any type of lead. Make sure you qualify each lead. The more leads you have, the better your chances are of finding deals.

Katrina,

You are in a very common position. As a new person to Real Estate Investment, you are not used to forming your own comps. This is a "learned" skill. And this is, in my opinion, one of the most important parts to Real Estate Investing.

Now, how to get the needed comps, since you are unable to produce them yourself. You have a few choices: 1) Have another Realtor provide comps. 2) Have an appraisal performed. 3) Get a trusted Real Estate Investor in the area assist in providing comps. Unfortunately, all of these items you are totally trusting someone elses opinions.

Making offers on Short Sales. WOW! I could go on and on forever about this. You are presently limited in your options. If you plan on placing an offer on this proerty, you really need to have someone that is ONLY representing you. So, if you decide to make an offer, get your own Realtor.

As for who negotiates the Short Sale, in this situation the Listing Agent will most likely "present" any offers to the Lender(s). Unless, you are prepared to place a contingency that states another party will Negotiate.

And one last item, I am totally surprised Jon didn't state this, but do not get your heart set on this property. With all the items that come with Short Sales, it is very probable that something will go wrong.

This is very typical in the Short Sale Flip world. Let me know, if I can assist in any form.

Sherri,

The real issue you will have is what you define as a "double" close. And how whom ever you are talking too defines that same term.

Talk to a local Real Estate Investor and ask them to give you a referral. Then set up an appointment and go talk and totally describe your business plan and how you plan on conducting business. Display all of your paperwork to the Title/ Attorney. Make sure you and they are able/ willing to work together.

Hope this helps!

Ariane,

What are your planning to do? If you define your plan, we will be able to give better adivce.